Monday, April 10, 2006

Beware the Short-Bashers

Let me repeat something I've said before: Short-sellers do not mismanage companies. They don't cause them to stuff the channel, build receivables or cook the books generically. Company managements do that. Short-sellers catch them.

The very fact that someone actually has to say that shows how short the public's memories are. And it's not just the public. A few weeks ago -- I blogged on it at the time -- I chatted with a journalist about short-selling. At one point he remarked that short-sellers had damaged companies by driving down their share prices.

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About Me

I'm a journalist and author. My latest book is AYN RAND NATION: The Hidden Struggle for America's Soul (St. Martin's Press: Feb. 28, 2012). My previous books were Wall Street Versus America (Portfolio: 2006) and Born to Steal (Warner Books: 2003). I was an investigative reporter and Wall Street writer for BusinessWeek, a contributing editor at Condé Nast Portfolio, and have written for the Daily Beast, Parade magazine, Salon, The Street.com, Fortune.com, Barron's and many other publications. I was an adjunct professor at Columbia University's School of Journalism. Follow me on Twitter @gary_weiss Email: garyweiss dot email at gmail dot com